Bradley Corporation Issued 10,000 Shares of Common Stock on January

question 149

Multiple Choice

Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would:

• A) debit Cash $250,000, credit Paid-in capital $100, and credit Common stock $249,900.
• B) credit Cash $250,000 and debit Paid-in capital $250,000.
• C) credit Cash $250,000, debit Common stock $100, and debit Paid-in capital $249,900.
• D) debit Cash $250,000, credit Common stock $100, and credit Paid-in capital $249,900.

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